In this paper an Indirect Matrix Converter (IMC) with two output stages feeding an open end load is presented. The IMC has the advantage of having no bulky energy storage elements and with the two output stages up to 1.5 times the input phase voltage can be obtained across the load without overmodulation. Two pulse width modulation strategies are presented. The first one is based on space vector modulation and suppresses the zero sequence voltage in the load. The second one is a carrier-based modulation and lower distorted input current is obtained. Results are presented and discussed.